JPMorgan Chase & Co. reissued their buy rating on shares of Facebook (NASDAQ:FB) in a report released on Wednesday. The firm currently has a $195.00 price objective on the social networking company’s stock.
A number of other research firms also recently weighed in on FB. Wells Fargo & Co restated a buy rating and issued a $220.00 price objective (down from $250.00) on shares of Facebook in a report on Thursday, July 26th. Wedbush restated a buy rating and issued a $250.00 price objective on shares of Facebook in a report on Thursday, July 26th. Monness Crespi & Hardt decreased their price objective on Facebook from $225.00 to $205.00 and set a buy rating for the company in a report on Thursday, July 26th. Citigroup downgraded Facebook to a buy rating and decreased their price objective for the company from $220.00 to $210.00 in a report on Thursday, July 26th. They noted that the move was a valuation call. Finally, KeyCorp restated a buy rating and issued a $215.00 price objective (down from $245.00) on shares of Facebook in a report on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $194.54.
NASDAQ FB opened at $150.35 on Wednesday. The firm has a market capitalization of $436.77 billion, a P/E ratio of 20.35, a P/E/G ratio of 0.92 and a beta of 0.55. Facebook has a twelve month low of $139.03 and a twelve month high of $218.62.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.30. The business had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. Facebook had a return on equity of 27.89% and a net margin of 37.57%. Facebook’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.59 earnings per share. Equities analysts anticipate that Facebook will post 7.3 EPS for the current fiscal year.
In other news, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $180.72, for a total transaction of $9,939,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Colin Stretch sold 750 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $184.98, for a total transaction of $138,735.00. Following the transaction, the vice president now directly owns 86,365 shares in the company, valued at approximately $15,975,797.70. The disclosure for this sale can be found here. Insiders have sold a total of 3,416,282 shares of company stock worth $603,782,983 in the last three months. Insiders own 17.23% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Summit Trail Advisors LLC lifted its position in Facebook by 4,170.3% in the 1st quarter. Summit Trail Advisors LLC now owns 9,070,939 shares of the social networking company’s stock valued at $9,071,000 after acquiring an additional 8,858,520 shares in the last quarter. Fundsmith Equity Fund L.P. bought a new position in Facebook in the 2nd quarter valued at about $1,072,219,000. Cornerstone Wealth Management LLC lifted its position in Facebook by 21,254.2% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 3,612,283 shares of the social networking company’s stock valued at $18,303,000 after acquiring an additional 3,595,367 shares in the last quarter. BlackRock Inc. lifted its position in Facebook by 2.0% in the 1st quarter. BlackRock Inc. now owns 149,137,226 shares of the social networking company’s stock valued at $23,830,637,000 after acquiring an additional 2,966,437 shares in the last quarter. Finally, Suvretta Capital Management LLC bought a new position in Facebook in the 1st quarter valued at about $430,727,000. 60.30% of the stock is currently owned by institutional investors.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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